Question

What employment taxes are imposed on an employee and an employer?

Answer 1

Payroll taxes are taxes paid on wages or salaries that employees earn. Payroll taxes are paid by both employers and employees.

Both employers and employees pay FICA tax, which is Social Security and Medicare Taxes. It’s a 50-50 split.

>Social Security tax

>Medicare tax

Employer payroll taxes are:-

Federal unemployment taxes (FUTA)

State unemployment taxes

Any local taxes

Employee payroll taxes are :-

Federal income tax

State income tax

Any local taxes

Additional Medicare Tax